EXHIBIT 11.1
PICO PRODUCTS, INC.
COMPUTATION OF PER SHARE EARNINGS
YEARS ENDED JULY 31, 1997 AND 1996 AND 1995
(IN THOUSANDS EXCEPT PER SHARE DATA)
1997 1996 1995
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Net income (loss) attributable
to common stock $(5,972) $ (400) $ 526
Net income (loss) used to compute
fully diluted earnings
per share $(5,972) $ (400) $ 526
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Primary earnings (loss) per share:
Weighted average number
of common shares outstanding 4,113 3,798 3,636
Dilutive effect of stock options
and warrants after application
of treasury stock method - - 604
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Number of shares used to compute
primary earnings per share 4,113 3,798 4,240
Primary earnings (loss) per share $ (1.45) $ (0.11) $ 0.12
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Fully diluted earnings (loss) per share:
Weighted average number
of common share outstanding 4,113 3,798 3,636
Dilutive effect of stock options
and warrants after application
of treasury stock method - - 604
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Number of shares used to compute
fully diluted earnings per share 4,113 3,798 4,240
Fully diluted earnings (loss) per share $(1.45) $ (0.11) $ 0.12
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